We went through major support like a hot knife through butter. The next level of support is the Dec 18' lows. I have never seen a market go down this quick. Even during the 87' and 1929 crashes there was a bounce at the 200 weekly MA. If we do bounce from Dec lows it will be a zigzag from the last pivot high in the beginning of March and I'm expecting a vicious bear rally to complete a c wave to form an expanded flat. The scary thing is if this count is correct, we haven't even started the 3rd wave.
Also, the cat is out of the bag. Everyone knows this is a bear market now, it will be a lot more trickier to short. Expect some nasty bear rallies.
The other thing is we have been following CL very closely. If CL has a short-term bottom which I'm expecting around $25 expect a rally in equities.
Also, the cat is out of the bag. Everyone knows this is a bear market now, it will be a lot more trickier to short. Expect some nasty bear rallies.
The other thing is we have been following CL very closely. If CL has a short-term bottom which I'm expecting around $25 expect a rally in equities.
